While growth was thrust to the top of agenda as Frontline reported its first quarter results today, the future of four VLCC newbuildings in its orderbook is uncertain following STX Offshore & Shipbuilding’s application for court receivership.

Frontline’s ships are set for delivery in 2017 and discussions have begun between the owner and the yard, its quarterly report said.

John Fredriksen’s Frontline owes $319m on the vessels and has refund guarantees in place with “first class banks”.

Erik